COLUMBIA—United States Attorney Beth Drake stated May 7 that Gerald Arnette, Jr., of Dillion, was sentenced in federal court in Florence, South Carolina, for bank fraud, a violation of 18 U.S.C. § 1344. United States District Judge R. Bryan Harwell, of Florence, sentenced the defendant to one year and a day in federal prison.
Evidence presented establ ished that the defendant was a loan officer at Citizens Bank in Florence, South Carolina. In his role as loan officer, the defendant used his position to fraudulently obtain loans, some of which he received kickbacks for obtaining. Moreover, information was presented that the defendant paid back over $150,000 dollars to the bank thereby making full restitution for the loans that were fraudulently issued.
The case was investigated by agents of the FBI and US Postal Inspector. Assistant United States Attorney Jay Richardson of the Columbia office prosecuted the case.
